SOURCE: eXp World Holdings, Inc.

eXp World Holdings, Inc.

eXp World Holdings, Inc.

July 13, 2016 10:21 ET

eXp Realty Launches in Utah

Industry Leader Rick Southwick Introduces Agent-Ownership to Utah

BELLINGHAM, WA--(Marketwired - July 13, 2016) - eXp World Holdings, Inc. (OTCQB: EXPI) today announced that it has commenced real estate brokerage operations in the State of Utah.

"The industry has been hungry for a business model that is wholly different from anything that its members have been presented with before," said Rick Southwick, the Company's managing broker in Utah. "eXp is that business model and agent ownership provides the greatest opportunity for agents that I've seen during my years in the business. eXp agents can work from anywhere while part of a supportive and collaborative community of fellow owners, while equipped with the tools needed to compete and to be successful in the industry today and tomorrow."

Southwick is a recognized leader within the Utah real estate community of which he has been a member for more than 30 years. Among his achievements are 2015 Utah Realtor of the Year; 2014 President of the Utah Association of Realtors; and, 2012 Vice President of the Utah Association of Realtors. In addition, Southwick served in 2010 as President of Northern Wasatch Association of Realtors, which also designated him Realtor of the Year in 2013. Prior to joining eXp, Southwick was with Keller Williams for 15 years including as an owner and former team leader. He also served as an Associate Vice President for Coldwell Banker for approximately 16 years.

"The Company continues to attract highly-respected, strong, and established leaders who share our passion for and commitment to agent-ownership and utilization of technologies that will position agents well as the industry continues to evolve," said eXp Realty CEO, Jason Gesing.

Contact information for Rick Southwick: rick.southwick@exprealty.com or 801-391-7425

About eXp World Holdings, Inc.

eXp World Holdings, Inc. is the holding company for a number of companies most notably eXp Realty LLC, the Agent-Owned Cloud Brokerage™ as a full-service real estate brokerage providing 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its 3-D, fully-immersive, cloud office environment. eXp Realty, LLC and eXp Realty of Canada, Inc. also feature an aggressive revenue sharing program that pays agents a percentage of gross commission income earned by fellow real estate professionals who they attract into the Company.

eXp World Holdings, Inc. also owns 89.4% of First Cloud Mortgage, Inc. a Delaware corporation launched in 2015 and now licensed to originate mortgages in Arizona, California, Virginia and New Mexico. First Cloud Mortgage has positioned itself as a Planet Friendly Mortgage Company via the purchase of carbon offsets for homeowners offsetting the first year of the Carbon Footprint of the typical home on each mortgage originated through First Cloud Mortgage, Inc.

As a publicly-traded company, eXp World Holdings, Inc. uniquely offers professionals within its ranks opportunities to earn equity awards for production and contributions to overall company growth.

For more information you can follow eXp World Holdings, Inc. on Twitter, LinkedIn, Facebook, YouTube, or visit eXpWorldHoldings.com. For eXp Realty please visit: eXpRealty.com and for First Cloud Mortgage, Inc. check out FirstCloudMortgage.com.

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the Company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the Company's expansion, revenue growth, operating results, financial performance and net income changes. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Company's Securities and Exchange Commission filings, including but not limited to the most recently filed Annual Report on Form 10-K.

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